Nigerian stocks ended the week strongly and pushed the market to a historic milestone.
Consequently, the Nigerian Exchange lifted the NGX All-Share Index to 198,407.30 points.
The index gained 0.73% during the week, rising from 196,968.15 points previously.
As a result, the 1,439.15-point increase pushed the market above 198,000 points for the first time.
Nigerian Stocks Market Hits Historic High
However, trading activity slowed slightly across the exchange during the week.
Investors traded 3.3 billion shares in 318,907 deals, compared with 3.6 billion shares earlier.
Mixed Trading During Week
Trading during the week followed a mixed but improving pattern.
The market opened Monday with a 0.12% gain, signalling positive investor sentiment.
Sellers dominated Tuesday and Wednesday and pushed the index below 196,000 points.
Afterward, buyers returned Thursday and lifted the market 0.52% before Friday’s stronger close.
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So far in 2026, the NGX All-Share Index has delivered a 27.50% year-to-date return.
Market breadth weakened slightly compared with the previous trading week.
Thirty-four stocks advanced, 61 declined, while 53 equities closed the week unchanged.
Nevertheless, strong gains in several large-capitalisation stocks supported the broader market rally.
BUA Cement Drives Rally
The NGX Industrial Goods Index led sector performance and rose 5.73% during the week.
Notably, BUA Cement Plc drove the rally with a 20% jump to ₦270.00.
Similarly, the NGX Oil and Gas Index gained 1.50%, supported by Conoil Plc, which surged 20.95% to ₦204.40.
Additionally, Aradel Holdings Plc climbed 3.05% during the same period.
However, the NGX Insurance Index fell 4.59%, leading sector losses.
Top gainers included Premier Paints Plc (+32.88% to ₦19.40) and Fidson Healthcare Plc (+19.04% to ₦105.35).
Corporate announcements also influenced investor sentiment.
For instance, Geregu Power Plc projected ₦8.1 billion pre-tax profit in its second-quarter forecast.
Likewise, VFD Group Plc plans to refund ₦1.83 billion to shareholders from surplus subscriptions.
Oando Plc warned it may delay its 2025 audited financial results due to software integration.
Overall, strong performance from heavyweight stocks lifted the market to its highest level on record.
Analysts expect continued momentum to push the index towards the 200,000-point mark soon.
